Heinz Hermann Thiele family Foundation

About the fund

Circulate Capital's Asia Fund II is a private equity vehicle investing in businesses that improve plastic waste management and recycling infrastructure across Asia. The fund targets operational companies and growth-stage enterprises delivering solutions to address the region's plastic waste challenges through enhanced collection, sorting, and recycling technologies and systems. Backed by development finance institutions including SIFEM, the fund deploys capital to establish and scale economically viable waste management models with measurable environmental outcomes. As the fund manager's second dedicated Asia vehicle, it seeks to generate both financial returns and positive impact by supporting businesses that create circular economy pathways in underserved Asian markets.